Methanex restarted an idle distillation unit which will debottleneck methanol production capacity at the Motunui, New Zealand site. This and other initiatives will enable Methanex to increase its total annual operating capacity in New Zealand by up to 900,000 tpy, depending on gas composition.

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Methanex has reached a number of key milestones with respect
to its near-term capacity growth objectives in New Zealand,
Canada and Chile, the company announced on Monday.

On October 4, Methanex successfully produced its first
methanol from the newly-restarted
500,000 tpy plant in Waitara Valley, New Zealand.

In September, meanwhile, Methanex also restarted an idle
distillation unit which will
debottleneck methanol production capacity at the
Motunui, New Zealand site. These two initiatives will enable
Methanex to increase its total annual operating capacity in New
Zealand by up to 900,000 tpy, depending on natural
gas composition.

Also in September, Methanex began production from the distillation capacity it has added
at its facility in Medicine Hat, Alberta. The new unit
adds 100,000 tpy of operating capacity at the
site.

"We are excited to be restarting our Waitara plant and to
have completed our distillation capacity initiatives in
New Zealand and Medicine Hat," said John Floren, CEO of
Methanex. These initiatives represent important milestones
in reaching our growth objectives.

"This new operating capacity, combined with our two 1 million
tonne plant relocations from Chile to Geismar, Louisiana, will
allow us to increase our operating capacity by up to 3 million
tonnes to a total of 8 million tonnes by 2016," Mr. Floren
added. "The projects have been completed on
schedule and on budget, thanks to many months of hard work by
our tams in New Zealand and Canada."

Methanex has also restarted its 900,000 tpy Chile
I plant.

"We expect the restarted Chile plant to produce methanol at a higher average daily
rate than we achieved in the first quarter of 2013, supported
by gas supplies from both Chile and Argentina through a tolling
arrangement," said Floren. "We have a first class team in
Chile and they have worked hard over the past months on this
Chile re-start project, while at the same time
progressing the relocation of two Chilean plants to
Geismar."

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